The Return of RedStar

Bought my first rehab in September 2017. Took 7.5 months (don’t ask) until the first time I thought I was finished. Original purchase was $115k. ARV was originally $165k. I went ahead and listed it for $169k. Got an offer 4 days later for $200k. Was about to profit $44k, but it failed inspection. The Masonite siding was wet and had to be replaced.

Did all the replacement work and got it back on the market about 5 days ago. Listed for $185k.

I have another rehab house that I closed on 6/1/18. I expect it to be completely finished by the first week of July. I estimate to profit $55k on this one, but as of now I can’t get a handle on running comps. I technically know how, but I always come up with vastly different numbers depending on what I use. I’m reliant on the wholesalers comps, which I know is not good.

Also, just took a class given at one of the local REI Clubs by Robyn Thompson, who has done over 400 rehabs and have a lot of good advice. I’m trying to ramp up to 50 houses/year within a few years.

Also, just bought a 2008 Lamborghini Gallardo convertible on HELOC and will pay it off within 2 years.

What’s going on everyone? Does Gold River still hang around here?

“Took 7.5 months (don’t ask) until the first time I thought I was finished.”

That’s one of the funniest things I’ve read recently, and any experienced investor knows exactly why!!! :biggrin

I’m so impressed with what you’ve done, especially in light of all the conversations, fears and whatnot that was shared here.

I hope you continue to reach your goals.



Here’s some before and after pics…



Hi Redstar,

            Congratulations on your first fix and flip! Good luck with your second one!


Thank you.

Nice job, that backsplash tile looks exactly like the stuff I used on the flip I’m working on now.